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Gold Prices Hit 6 year High

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Gold Futures---Gold futures in the August contract is currently trading higher by $12 at 1,440 an ounce after settling last Friday in New York at 1,412 up about $28 hitting a fresh 6 year high as this market looks to test the 1,500 level in the coming weeks ahead in my opinion.

At the present time I'm not involved in gold, but I have bullish positions across the board in the precious metals as I still think gold prices continue to March higher and if you are long a futures contract place the stop loss under the 2 week low which stands at 1,384 as an exit strategy.

Gold prices are trading far above their 20 and 100 day moving average as this trend is strong to the upside as silver prices are up over $0.40 today and still looks very cheap compared to gold prices.

Volatility in gold has definitely accelerated as that is here to stay in my opinion as I think strong demand will continue to support gold and the precious metals across-the-board as U.S interest rates remain at extremely low levels which is bullish towards the commodity markets.

When you trade the commodity markets finding the trend is the most important aspect as the precious metals have now developed into strong trends as you should have bullish positions not bearish positions as that would be counter-trend trading.




If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit




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About the author

Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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